The Most Important Chart In The World

Dec. 03, 2012 3:08 PM ETSPY, DIA, QQQ, IWM, AAPL, GOOG
Allan Harris profile picture
Allan Harris's Blog
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Long/Short Equity, Dynamic Trend Following, Option Tradnig

Contributor Since 2008

I have been a professional trader since 1994 when I gave up the practice of law to devote myself to trading full time. That twenty years and thousands of dollars in tution down the tubes, but that's OK, because trading for a living is about the best vocation you can have. You make money based on your own wits, not toiling for a paycheck from someone else. Even when I practiced law in Atlanta, Georgia I had my own shingle. In fact, the last paycheck I ever received was from delivering pizza's in a high school and even then, most of my earnings came from tips. But there are no hot tips in successful trading, only the creativity and discipline to be a successful stock trader. Be independent, be successful and learn from someone who has made his own way. Your life will never be the same. Hard sell over.

OK, a little hyperbole. Nonetheless, a break of the Wave 4 Channel coincident with a Stochastic sell signal will generate a 70% probability of the DJIA falling to the 11000 area in the weeks ahead. I know about the bullish seasonality, it's all over CNBC, Bloomberg TV and Fox Business. With such a sweeping consensus, how could the market possibly go down in December?

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